Exam 1 CHP 1 Flashcards
The activity, set of institutions, and processes for creating, communicating and delivering offerings that have value for customers.
Marketing Definition
What are the Conditions of Exchange?
- Must have 2 parties
- Something of value
- Communication and delivery
- Desire to deal with the other party
- Each party is free to accept or reject
Aggressive sales techniques and the belief that high sales result in high profits.
Organizational Focus - Sales Orientation
Satisfying customer wants and needs while meeting organizational objectives.
Organizational Focus - Marketing Orientation
Customer’s evaluation of a good or service in terms of whether that good or service has met their needs and expectations.
Customer Satisfaction
A company-wide business strategy designed to optimize profitability, revenue, and customer satisfaction.
Relationship Management
What are the components of sustainable marketing?
- Customer Behavior
- Entrepreneurship
- Strategy
- Management
What are the 4 fundamental values of tomorrow’s markets?
- Customer - Customization/Individualization
- Capital - Availability/Scarcity
- Labor - Knowledge/Capitalism
- Government - Paying For Stuff
“Listen to your customer!”
Customer Behavior
“Change the rules”
Entrepreneur
“Win with strength”
Strategy
“Do your duty”
Management
